Best Financial Advisor Firms of 2024
You want to follow a solid strategy that leads to profitability when starting a new business, expanding your service offerings, or making other decisions that affect your bottom line.
While accountants and accountancy software can help keep your finances in line, a masterful financial consulting firm can assess the viability of your business model and create feasible strategies for business ventures.
If you’re considering partnering with a financial advisor, you’d want to join hands with a firm whose advice you can trust. Here’s how to find the best financial advisor agency for your business.
Recommended Firms
Fidelity Investments
Fidelity Investments is one of the largest financial services companies in the US, offering a wide range of investment and wealth management services. Founded in 1946, they provide personalized financial planning, retirement solutions, and investment advice tailored to individual client needs. Their robust research and technology support informed decision-making for investors.
Edward Jones
Edward Jones is a financial services firm that focuses on providing personalized investment advice and financial planning to individual investors. Established in 1922, they operate through a network of financial advisors who work closely with clients to develop customized investment strategies aligned with their goals and risk tolerance.
Ameriprise Financial
Ameriprise Financial offers comprehensive financial planning and investment management services for individuals and businesses. Founded in 1894, they focus on helping clients achieve their financial goals through tailored strategies that include retirement planning, insurance products, and wealth management services. Their advisors provide ongoing support and guidance throughout the financial planning process.
Merrill Lynch Wealth Management
Merrill Lynch Wealth Management is a leading provider of wealth management services and investment advisory solutions. Part of Bank of America, they offer personalized financial planning and investment strategies for high-net-worth individuals and families. Founded in 1914, their experienced advisors work closely with clients to help them achieve their financial objectives through comprehensive wealth management solutions.
Vanguard
Vanguard is one of the world’s largest investment management companies known for its low-cost index funds and ETFs. Founded in 1975, they offer a range of investment advisory services including retirement planning and personalized portfolio management. Vanguard emphasizes a client-first approach and provides tools and resources to help investors make informed decisions about their investments.
How financial advisor firms help businesses
Financial advisors help small businesses and large companies alike. They offer different services.
Financial advisors may have different backgrounds, skills, and experience.
Nonetheless, they offer calculated advice on a range of subjects that businesses can follow for a brighter financial future. They might advise on the following:
- Financial planning
- Tax optimization
- Shareholder protection
- Employee benefit management
- Workplace benefits
- Investment opportunities
- Succession planning
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How do you choose the best financial advisor firm?
By relying on a comprehensive vetting process, you can secure a financial advisor firm that will move your financial matters forward.
Inquire about the services they offer
Jumpstart the process of finding a top financial advisor by assessing your needs. What financial advice do you need? You might want financial guidance across the full spectrum of financial matters or you might need advice pertaining to a specific matter — like investments.
Once you know what advice you need, you can start looking for firms that can provide it. Make a list of possible firms.
Find out about the advisors’ qualifications and experience
Now, it is time to shorten your list by looking at the education and experience of the firms on your list. This is a crucial step as there are many advisors who do not boast ample experience and do not hold degrees.
It is not necessary to have a degree if you want to offer financial advice, but considering the complexities of the financial world, it’s best to partner with advisors with degrees.
Check if the consultants at a firm hold degrees in accounting, finance, or business. Also, check that the firms on your list have the necessary real-world experience to offer quality advice.
Find out about certification
Financial advisors who sell financial products to their clients need to be licensed by the Financial Industry Regulatory Authority (FINRA).
Other certifications and designations to look out for are:
- Certified Financial Planner (CFP) certification – To receive this certification, advisors need to prove that they can offer holistic financial planning.
- Chartered Financial Consultant (ChFC) – This designation is similar to CFP certification.
- Research a firm’s reputation – If a firm’s current clients are happy, chances are you’ll be too. Have a look at online reviews and see if you can find testimonials from their clients.
Start your search for the top financial advisor firms at Firms.com!
Your search for the best financial advisor firms begins here! Review our detailed list of top rated financial advisor firms to hire the ideal partner for your business.
Are you a financial advisor firm that should be on our list? Contact us today to get listed.
Five things to consider when partnering with a financial advisor firm
Before contracting a firm, consider the following factors:
Their initial consultation
Some financial advisors offer a free initial consultation, during which they discuss their approach and give you an opportunity to see if they’re a good fit for you.
Your chemistry
Businesses want to build a trusting relationship with a financial advisor agency that stays by their side as they grow. Ask yourself if you’ll get along well with the advisors at your chosen firm.
Their communication
Consider how often a firm reaches out and reports back on the state of your financial affairs.
Their service level
Consider a firm’s service level commitments. Consider their availability to give guidance, the administrative support they provide, and how often they’ll review your financial plan.
Their independence
Some advisors can only offer financial solutions from their firm while others offer different products and solutions from various companies.
FAQ on best financial advisor firms
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What are the benefits of working with a financial advisor?
Partnering with a third-party financial advisor holds many benefits including::
- Financial risk mitigation
- Access to specialized knowledge on complex financial matters.
- Better cash flow management
- Enhanced compliance
- More time to focus on core business goals